myRA is a simplified retirement account proposed by President Barack Obama during his 2014 State of the Union address delivered to joint session of Congress on January 28, 2014.
The paragraph of detail on the State of the Union fact sheet, read:
Creating “myRA” — A Safe, Easy-to-Use Starter Savings Account to Help Millions of Middle Class Americans Save for Retirement. Starting to save is just the first step towards a secure retirement. Workers must have a place to invest their hard-earned savings that provides an appropriate balance of risk and return, and many private sector providers do not offer retirement savings options tailored to smaller balance savers. Our retirement system should help these potential savers and encourage them to begin building their retirement security. The President is using his executive authority to create “myRA” (my Retirement Account) — a new simple, safe and affordable “starter” retirement savings account that will be available through employers and help millions of Americans save for retirement. This savings account would be offered through a familiar Roth IRA Account and, like savings bonds, would be backed by the U.S. government.
http://en.wikipedia.org/wiki/MyRA_%28Retirement_Account%29
Obama promised to raise the minimum wage to $10.10 for federal contractors and to work with states, local governments, and private groups as well as Congress, to raise the minimum wage nationally, arguing better pay is needed to support the economy as well as the right thing to do.
Additional featured proposals included:
further improvements in providing Americans health care;
enacting immigration reform;
a smarter national security approach including the War On Terror and the war in Afghanistan (the longest U.S. war);
moving the country off of a permanent war footing while laying out his case for “strong and principled diplomacy”;
calling for Congress to give U.S. diplomats some room to maneuver, particularly when it comes to Iran; and
improvements to education to ready Americans for the jobs of tomorrow’s economy.
Representative Cathy McMorris Rodgers of Washington, the highest-ranking female Republican in the U.S. House of Representatives, delivered the Republican Party response to President Obama’s statement. The decision was made by House Speaker John Boehner and Republican Senate Leader Mitch McConnell. In addition, Utah Senator Mike Lee gave an address in response to Obama’s speech on behalf of the Tea Party Express. Kentucky Senator Rand Paul released his own address on Youtube and Facebook. He had previously given a response on behalf of the Tea Party Express in 2013. The four Republican responses were interpreted as a sign of the party’s ideological divisions.
http://en.wikipedia.org/wiki/2014_State_of_the_Union_Address
In December 2013, Obama declared that growing income inequality is a “defining challenge of our time” and called on Congress to bolster the safety net and raise wages. This came on the heels of the nationwide strikes of fast-food workers and Pope Francis criticism of inequality and trickle-down economics.
http://en.wikipedia.org/wiki/Obama
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